Service Members Get Extra Year for Tax Credit
This is a bit of good news.  Members of the U.S. military, foreign service and intelligence communities have another year to purchase a home and claim the home buyer tax credit.

Any service member who is or has been on extended duty for 90 days or more between Jan. 1, 2009 to April 30, 2010, has until April 30, 2011, to sign a sales contract and until June 30, 2011, to close on the property. Both the $8,000 first-time and the $6,500 repeat home buyer tax credits are included in the extension.

The rule that requires buyers to repay the credit if they move out of their home within three years has also been waived for qualified service members if they receive government orders to move.

This patriotic benefit is not only great for those service people who can use it , but also for our housing industry. The tax credit incentive really boosted home sales. We were working contracts up until right before midnight last Friday night, the April 30th deadline.  How many of you think it would be a good idea to extend or reactivate the tax credit? Let us know your thoughts and opinions.